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What's your starting "bank"

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What's your starting "bank"

Post by Morninglory on Sat Jul 26, 2014 3:41 pm

When you set up what change do you begin with? When I was a server we had a $50 bank we started with. This usually worked well for making change, but if we needed to e could go to the office to exchange larger bills for smaller ones. That is not an option for face painting. How much have you found to be an appropriate amount to bring? I don't want to carry too much to start off but I also don't want to lose someone because I can't make change.

Also do you price at $5 increments or do you make sure they get ones back to encourage tipping? When I was a server I didn't like giving back one's, because if they had no one's they were more likely to tip $5 or more, but as a face painter I don't know the tip etiquette.
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Morninglory

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Re: What's your starting "bank"

Post by rthling on Sat Jul 26, 2014 10:27 pm

I'm the nutty one who likes to start out with $150-200 in ones and fives.
By the end of the day, I usually have only tens and twenties (and sometimes a hundred or two!) left.
We usually go through it.
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Re: What's your starting "bank"

Post by Maxell on Sun Jul 27, 2014 7:25 am

My first event of the summer, I had 150 in loonies, toonies, and fives...and i am glad I did...i needed. Second event I had a 200 dollar float....and barely touched it as like the first 10 people paid exact change and then i just used that....so i guess it depends...but I will definitely do a 150 float minimum.
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Re: What's your starting "bank"

Post by Morninglory on Sun Jul 27, 2014 9:22 am

Do the two of you price in 5$ increments or not? I can see pricing dictating how many ones vs fives needed to start out with. In thinking of doing $6 dolor faces to start off with which may reduce the amount of money I need to bring to start. People who have exact change will be replenishing my ones and fives, and those who need change will automatically be getting some ones back which I hope will encourage tipping without me having to give $5 in ones.

I may be over thinking all this:/
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Re: What's your starting "bank"

Post by rthling on Sun Jul 27, 2014 9:28 am

My prices depend upon the concession prices.
If you can get a burger, fries, and a drink for $5, I charge less than a venue where you pay $10 for the same thing.
My prices range from $3-12, or $5-15, depending upon the event.
And I have one event where I charge $5-20, because people will pay it. I'm always amazed.
I don't over-think what kind of change I may need. I just do the same thing every time.
I bring $50 in ones, $100 in fives, and $50 in tens.
Sometimes I don't bring tens, but usually I do.
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Re: What's your starting "bank"

Post by Maxell on Sun Jul 27, 2014 9:29 am

obviously the amount you charge will effect your float...if 5 and 10..then no need for ones...I had 60 dollars in fives as a min...with 4 10s......for bill float...being from Canada....our one's and two's are coins.......its a hard thing to predict...but lots of 5's and one's is the best advice i can give you....oh...and a secure place to put it.....
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Re: What's your starting "bank"

Post by rthling on Sun Jul 27, 2014 9:29 am

And I accept credit cards at venues where I have a decent cell signal.
I have definitely made more money where I can take cards.
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Re: What's your starting "bank"

Post by rthling on Sun Jul 27, 2014 9:33 am

Maxell wrote:....oh...and a secure place to put it.....

Hubby is usually my line manager/money collector. He wears a fanny pack. And he's a big enough guy that I don't worry about anyone taking it off him.  Shocked 
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Re: What's your starting "bank"

Post by Morninglory on Sun Jul 27, 2014 10:45 am

I have a double sided apron with 3pockets each side. I figure ones and fives in front and larger bills in the under side.

Guess I'll just have to be prepared for the first few times and lower it if I find I can. Thanks for the answers!
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Re: What's your starting "bank"

Post by FacepaintingByTanya on Sun Jul 27, 2014 1:09 pm

I like the double-sided apron idea, might have to retrofit mine. Currently I use 4-pocket aprons.
Pocket1: cellphone with Paypal card reader attached, ready to take credit cards.

Pocket 2: 10s/20s+ go here. I don't usually bring any, because breaking 100s is not something I do (I offer credit card option instead, I don't want to deal with getting a fake $100)... As I work I've noticed I get a LOT of 10s/20s, sometimes the pocket is stuffed full and I've dropped a couple 20s while I work... I think a "big bill" pocket on the *inside* of the apron is an awesome idea Smile

Pocket3: 5s (I bring about $50 in 5s).

Pocket4: 1s (I bring $50-$75 in 1s).

My pricing starts at $10, and I quote per-piece, as I do primarily custom requests, or requests that are customized based on what people see in my idea books.

There are two exceptions to my $10 minimum...

1) if I am at a lower bracket event, I will post a venue special (like $7-$Cool to get people interested (it totally works);

2) I do offer family discounts (a couple bucks off designs) if they have me quote as a group and tell me their ideas.

I was quoting things in increments of 5 ($10, $15, $20, etc) to make change-back easier (since I work solo), but I read an interesting article on the human psyche and change-back perceptions, and decided instead to price things more unevenly (not in $5 increments). The reasoning is that if someone asks for something that costs say $16, gives you a $20, you give back a $4 in 1s, they are more inclined to tip you better than if you charges $15 and give them back a $5. In their mind, handing over a few 1s is better than handing you a $5 bill.

So I tried this, not expecting more than a hassle with having more 1s on hand and having to count piles of them back.... it works!! I make more by pricing things like $1-$2 over my standard by-5 pricing, both in price AND in tips. My new tip jar also gets more attention, because it has a voting concept with funny questions, and people want what they like to win.
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Re: What's your starting "bank"

Post by Morninglory on Sun Jul 27, 2014 7:00 pm

When I was a server we had double sided aprons so if we worked a double shift we had a clean side for the second shift. Soo I can't claim the idea. I'm glad you like it and hope it works well for you!
FacepaintingByTanya wrote:
I was quoting things in increments of 5 ($10, $15, $20, etc) to make change-back easier (since I work solo), but I read an interesting article on the human psyche and change-back perceptions, and decided instead to price things more unevenly (not in $5 increments). The reasoning is that if someone asks for something that costs say $16, gives you a $20, you give back a $4 in 1s, they are more inclined to tip you better than if you charges $15 and give them back a $5. In their mind, handing over a few 1s is better than handing you a $5 bill.

So I tried this, not expecting more than a hassle with having more 1s on hand and having to count piles of them back.... it works!! I make more by pricing things like $1-$2 over my standard by-5 pricing, both in price AND in tips. My new tip jar also gets more attention, because it has a voting concept with funny questions, and people want what they like to win.
This is exactly what I thought, since face painting isn't always tipped the average person is less likely to tip larger increments.
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Re: What's your starting "bank"

Post by Kris5115 on Mon Jul 28, 2014 9:12 am

I usually charge $5-$12 (but adjust a bit depending on food prices at the venue) and also offer a $2 mustache option. I get more tips on my $8 designs than on any other. People give me a $10 and say keep the change.
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Re: What's your starting "bank"

Post by Forest-Fairy on Thu Aug 07, 2014 7:51 pm

*eye twitch* it's called a 'Float'
sorry... pet peeve.

Well it depends on the event but I have gotten by nicely with a $30 float
In Canadian money i have
$10 in - $5 bills
$14 in - $2 coins
$6 in  -  $1 coins
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